IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v15y2023i9p7430-d1137234.html
   My bibliography  Save this article

Examining the Purchase Intentions of Indonesian Investors for Green Sukuk

Author

Listed:
  • Yudi Ahmad Faisal

    (Department of Management and Business, Universitas Padjadjaran, Bandung 40132, Indonesia)

  • Indra Gunawan

    (Hajj Fund Management Agency, Jakarta 12940, Indonesia)

  • Cupian

    (Department of Economics, Universitas Padjadjaran, Bandung 40132, Indonesia)

  • Amelia Hayati

    (Department of Economics, Universitas Padjadjaran, Bandung 40132, Indonesia)

  • Ardi Apriliadi

    (Faculty of Economics and Business, Universitas Padjadjaran, Bandung 40132, Indonesia)

  • Muhammad Fajri

    (Faculty of Economics and Business, Universitas Padjadjaran, Bandung 40132, Indonesia)

Abstract

The purpose of this paper is to investigate the impact of functional, social, emotional, religious, and knowledge values on customers’ intentions to purchase green sukuk (Islamic bonds) products. This study employs the Theory of Consumption Value (TCV) and analyzes data from a sample of 300 respondents using the Partial Least Squares Structural Equation Model (PLS-SEM). The results suggest that these values significantly influence the choice to purchase the products. The study is limited to the western area of Indonesia, one of the most populated and dominated economic powers in the country, and focuses specifically on green sukuk using TCV. Nevertheless, it provides valuable insights for understanding the determinants that stimulate potential investors in purchasing green financial products in Islamic finance industry, which has emerged as an important element in the country’s economic engines.

Suggested Citation

  • Yudi Ahmad Faisal & Indra Gunawan & Cupian & Amelia Hayati & Ardi Apriliadi & Muhammad Fajri, 2023. "Examining the Purchase Intentions of Indonesian Investors for Green Sukuk," Sustainability, MDPI, vol. 15(9), pages 1-12, April.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:9:p:7430-:d:1137234
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/15/9/7430/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/15/9/7430/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Iacob Cătoiu & Diana Maria Vrânceanu & Alina Filip, 2010. "Setting Fair Prices – Fundamental Principle Of Sustainable Marketing," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 12(27), pages 115-128, February.
    2. Hong Wang & Baolong Ma & Rubing Bai, 2019. "How Does Green Product Knowledge Effectively Promote Green Purchase Intention?," Sustainability, MDPI, vol. 11(4), pages 1-13, February.
    3. Mathew Thomas Gil & Jayanth Jacob, 2018. "The relationship between green perceived quality and green purchase intention: a three-path mediation approach using green satisfaction and green trust," International Journal of Business Innovation and Research, Inderscience Enterprises Ltd, vol. 15(3), pages 301-319.
    4. Donato Morea & Luigi Antonio Poggi, 2017. "An Innovative Model for the Sustainability of Investments in the Wind Energy Sector: The Use of Green Sukuk in an Italian Case Study," International Journal of Energy Economics and Policy, Econjournals, vol. 7(2), pages 53-60.
    5. Philipp Grunau & Julia Lang, 2020. "Retraining for the unemployed and the quality of the job match," Applied Economics, Taylor & Francis Journals, vol. 52(47), pages 5098-5114, October.
    6. Ali I. El Saleh & Doureige J. Jurdi, 2021. "Stock performance under alternative Shariah screening methods: Evidence from Australia," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(3), pages 4339-4388, September.
    7. Suren Basov & M. Ishaq Bhatti, 2016. "Islamic Finance in the Light of Modern Economic Theory," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-137-28662-8, September.
    8. Khawaja, Mohsin & Bhatti, M. Ishaq & Ashraf, Dawood, 2019. "Ownership and control in a double decision framework for raising capital," Emerging Markets Review, Elsevier, vol. 41(C).
    9. Sheth, Jagdish N. & Newman, Bruce I. & Gross, Barbara L., 1991. "Why we buy what we buy: A theory of consumption values," Journal of Business Research, Elsevier, vol. 22(2), pages 159-170, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Umar Nawaz Kayani & Anamul Haque & Umme Kulsum & Nishat Taslin Mohona & Fakhrul Hasan, 2023. "Modeling the Antecedents of Green Consumption Values to Promote the Green Attitude," Sustainability, MDPI, vol. 15(17), pages 1-15, August.
    2. Saddam A. Hazaea & Ebrahim Mohammed Al-Matari & Khaled Zedan & Saleh F. A. Khatib & Jinyu Zhu & Hamzeh Al Amosh, 2022. "Green Purchasing: Past, Present and Future," Sustainability, MDPI, vol. 14(9), pages 1-28, April.
    3. Magdalena Grębosz-Krawczyk & Agnieszka Zakrzewska-Bielawska & Sylwia Flaszewska, 2021. "From Words to Deeds: The Impact of Pro-Environmental Self-Identity on Green Energy Purchase Intention," Energies, MDPI, vol. 14(18), pages 1-17, September.
    4. Magdalena Grębosz-Krawczyk & Agnieszka Zakrzewska-Bielawska & Beata Glinka & Aldona Glińska-Neweś, 2021. "Why Do Consumers Choose Photovoltaic Panels? Identification of the Factors Influencing Consumers’ Choice Behavior regarding Photovoltaic Panel Installations," Energies, MDPI, vol. 14(9), pages 1-20, May.
    5. Abdullah Al Mamun & Naeem Hayat & Muhammad Mohiuddin & Anas A. Salameh & Syed Shah Alam, 2023. "Green Gardening Practices Among Urban Botanists: Using the Value-Belief-Norm Model," SAGE Open, , vol. 13(3), pages 21582440231, July.
    6. Jose Antonio Román-Augusto & Camila Garrido-Lecca-Vera & Manuel Luis Lodeiros-Zubiria & Martin Mauricio-Andia, 2022. "Green Marketing: Drivers in the Process of Buying Green Products—The Role of Green Satisfaction, Green Trust, Green WOM and Green Perceived Value," Sustainability, MDPI, vol. 14(17), pages 1-17, August.
    7. Daan Kabel & Mattias Elg & Erik Sundin, 2021. "Factors Influencing Sustainable Purchasing Behaviour of Remanufactured Robotic Lawn Mowers," Sustainability, MDPI, vol. 13(4), pages 1-17, February.
    8. Rosa Maria Dangelico & Fabio Nonino & Alessandro Pompei, 2021. "Which are the determinants of green purchase behaviour? A study of Italian consumers," Business Strategy and the Environment, Wiley Blackwell, vol. 30(5), pages 2600-2620, July.
    9. Xiaoxu Dong & Huawei Zhao & Tiancai Li, 2022. "The Role of Live-Streaming E-Commerce on Consumers’ Purchasing Intention regarding Green Agricultural Products," Sustainability, MDPI, vol. 14(7), pages 1-13, April.
    10. Saarijärvi, Hannu & Mitronen, Lasse & Yrjölä, Mika, 2014. "From selling to supporting – Leveraging mobile services in the context of food retailing," Journal of Retailing and Consumer Services, Elsevier, vol. 21(1), pages 26-36.
    11. Pengji Wang & Adrian T. H. Kuah & Qinye Lu & Caroline Wong & K. Thirumaran & Emmanuel Adegbite & Wesley Kendall, 2021. "The impact of value perceptions on purchase intention of sustainable luxury brands in China and the UK," Journal of Brand Management, Palgrave Macmillan, vol. 28(3), pages 325-346, May.
    12. Terason Sid, 2021. "Predicting Sports Facility Revisit Intentions Based on Experience and Mediating Effects of Perceived Value," Polish Journal of Sport and Tourism, Sciendo, vol. 28(3), pages 35-41, September.
    13. Debora Bettiga & Lucio Lamberti & Emanuele Lettieri, 2020. "Individuals’ adoption of smart technologies for preventive health care: a structural equation modeling approach," Health Care Management Science, Springer, vol. 23(2), pages 203-214, June.
    14. Morais, Ana Catarina & Ishida, Akira & Matsuda, Ruriko, 2024. "Ethical food consumption drivers in Japan. A S–O-R framework application using PLS-SEM with a MGA assessment based on clustering," Journal of Retailing and Consumer Services, Elsevier, vol. 76(C).
    15. Neringa Ivanauskiene & Vilte Auruškeviciene & Vida Skudiene & Sarunas Nedzinskas, 2012. "Customer perceptions of value: case of retail banking," Organizations and Markets in Emerging Economies, Faculty of Economics, Vilnius University, vol. 3(1).
    16. Jin, Ting & Prentice, Catherine & Shao, Wei, 2021. "Identifying antecedent conditions for luxury brand purchase," Journal of Retailing and Consumer Services, Elsevier, vol. 60(C).
    17. Anxin Xu & Chenwen Wei & Manhua Zheng & Lili Sun & Decong Tang, 2022. "Influence of Perceived Value on Repurchase Intention of Green Agricultural Products: From the Perspective of Multi-Group Analysis," Sustainability, MDPI, vol. 14(22), pages 1-17, November.
    18. Adis Puska & Admir Beganovic & Allen Popovic Beganovic, 2019. "Consumers' Loyalty Toward Dark Chocolate," Economic Thought and Practice, Department of Economics and Business, University of Dubrovnik, vol. 28(1), pages 245-266, june.
    19. Park, JungKun & Ahn, Jiseon & Thavisay, Toulany & Ren, Tianbao, 2019. "Examining the role of anxiety and social influence in multi-benefits of mobile payment service," Journal of Retailing and Consumer Services, Elsevier, vol. 47(C), pages 140-149.
    20. Mäntymäki, Matti & Salo, Jari, 2013. "Purchasing behavior in social virtual worlds: An examination of Habbo Hotel," International Journal of Information Management, Elsevier, vol. 33(2), pages 282-290.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:15:y:2023:i:9:p:7430-:d:1137234. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.